Analysts Set Cantaloupe, Inc. (NASDAQ:CTLP) Price Target at $9.90

Cantaloupe, Inc. (NASDAQ:CTLP) has been given an average recommendation of “Buy” by the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $9.90.

A number of equities analysts have recently weighed in on CTLP shares. Benchmark reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Cantaloupe in a research note on Monday, March 25th. Northland Securities reaffirmed an “outperform” rating and issued a $10.00 price objective on shares of Cantaloupe in a research note on Friday. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $10.00 price objective on shares of Cantaloupe in a research note on Tuesday, May 28th.

Institutional Investors Weigh In On Cantaloupe

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CTLP. New York State Teachers Retirement System purchased a new stake in Cantaloupe during the fourth quarter valued at approximately $38,000. Tower Research Capital LLC TRC raised its position in Cantaloupe by 949.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,794 shares of the technology company’s stock valued at $80,000 after purchasing an additional 9,765 shares during the period. Price T Rowe Associates Inc. MD raised its position in Cantaloupe by 23.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,109 shares of the technology company’s stock valued at $111,000 after purchasing an additional 3,197 shares during the period. SG Americas Securities LLC raised its position in Cantaloupe by 40.5% during the fourth quarter. SG Americas Securities LLC now owns 21,265 shares of the technology company’s stock valued at $158,000 after purchasing an additional 6,125 shares during the period. Finally, Jupiter Asset Management Ltd. raised its position in Cantaloupe by 11.4% during the first quarter. Jupiter Asset Management Ltd. now owns 34,558 shares of the technology company’s stock valued at $222,000 after purchasing an additional 3,536 shares during the period. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

Cantaloupe Stock Performance

Shares of CTLP opened at $6.57 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.57 and a debt-to-equity ratio of 0.20. The business has a 50-day simple moving average of $6.66 and a two-hundred day simple moving average of $6.56. The stock has a market cap of $478.36 million, a price-to-earnings ratio of 41.06 and a beta of 1.66. Cantaloupe has a 52 week low of $5.74 and a 52 week high of $8.28.

Cantaloupe (NASDAQ:CTLP) last issued its quarterly earnings results on Thursday, May 9th. The technology company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. The business had revenue of $67.90 million during the quarter, compared to analysts’ expectations of $69.57 million. Cantaloupe had a return on equity of 7.36% and a net margin of 4.85%. During the same quarter in the prior year, the business posted $0.09 earnings per share. On average, analysts expect that Cantaloupe will post 0.17 EPS for the current year.

About Cantaloupe

Cantaloupe, Inc, a digital payments and software services company, provides technology solutions for the unattended retail market. The company offers integrated solutions for payments processing, logistics, and back-office management. It also provides ePort, an integrated payment device that is deployed in self-service, unattended market applications, such as vending, micro-markets, amusement, arcade, commercial laundry, air/vacuum, car wash, and others, which facilitates digital payments; and integrated software services for payment or asset tracking devices.